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how to calculate closing stock?
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Answer / h.r. sreepada bhagi
Calculation of Book Stock (Trading Company):
Opening Stock + Purchases - Purchase Returns - Cost of Goods
Sold = Closing Stock.
Calculation of Book Stock (Manufacturing Company):
Opening Stock + Purchases - Purchase Returns - Cost of
Materials used in manufacture = Closing Stock.
For finalisation of accounts & audit at the year end, take
physical stock & value it by applying unit rate to stock
quantity at cost or realisable value whichever is lower.
Generally there will be difference between the book value &
physical stock value & physical stock value arrived as above
should be taken in to P&L A/c & Balance Sheet.
| Is This Answer Correct ? | 33 Yes | 4 No |
Answer / parika
opening stock plus purchase less consumption of stock =
closing stock
| Is This Answer Correct ? | 10 Yes | 8 No |
Answer / umamaheshwara rao
opening stock + purchase - sales = closing stock
| Is This Answer Correct ? | 8 Yes | 20 No |
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Audit 
